
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Chris Burniske, trader, crypto investor: "Why is crypto falling so much in 2018? Because in 2017 the market was up more than 30 times, but adoption (beyond investing & trading) wasn’t concurrently up 30 times. One can try to explain each fluctuation, but these explanations are frequently stories we tell ourselves, stretching to add reason to traders driving a bear market. The macro story I tell myself is ‘financial reality’ divorced from utility fundamentals in 2017, and so we have to (expectedly) course correct."
After started bearish on Monday, Bitcoin increased to its mid-August levels closing at $6,468 on Thursday. It is connected with the news about Morgan Stanley. The famous bank announced that it is working on a solution to protect the Bitcoin investors. Moreover, other big financial institutes, such as Citigroup and BlackRock, are planning to launch crypto-related products. The market reacted positively, which resulted in pushing the price of BTC up. Up to now, the digital currency has been trying to reach the 200-period MA on H4 at $6,605. If it breaks the resistance level, the future growth could be expected. The next resistance level is at $7,125. Otherwise, BTC/USD will go back to the support at $6,180.
Bitcoin $6,437.7 (-0.43%)
DASH $185.54 (-2.62%)
Ethereum $205.79 (+6.02%)
Litecoin: $53,300 (-0.28%)
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!